On Thursday evening, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words seemed accurate for a lot of people. It is one of the organizations where there exists fact-based and generally dependable reporting – especially during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Business Tug-of-War
But the news network, now middle-aged, finds itself in a precarious situation as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of business acquisition, instead of as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
The Additional Factor: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to like that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Problem and a Potential Solution
Regardless of the resolution in this situation, the bigger problem persists.
“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the latest merger game.
